IT spending in India 2013-2023, by segment
IT-BPM at a glance
The industry has generated maximum employment in the private sector. It also made the country, the leading offshoring destination for global IT companies. Major IT firms in the country like Infosys, Wipro, TCS and Tech Mahindra have diversified options available in blockchain, artificial intelligence, robotics, financial services, cloud computing and much more. Banking and financial services had the largest share of annual contract value in the industry.
Public cloud services have picked up a lot of attention in the recent years in the country. The market for cloud services was value at over seven billion dollars in 2022. The revenue of the public could services market reached 7.3 billion U.S. dollars in the year of 2022. Emerging technologies in the sector could provide the nation with an opportunity to surf for a big growth, both in onshore as well as offshore services revenues.